UK investors shun ISA allowances
In the run-up to the end of the tax year it has been revealed that many UK investors are ignoring their ISA allowances which could see them invest £7200 tax-free for the future. For many investors the short-term potential to utilise their full capital gains tax allowance is a remote possibility never mind the apparent short-term attractions of their ISA allowance. However, in many cases there is scope to transfer existing investments from non-tax efficient vehicles into tax sheltered vehicles such as ISAs. It is worth remembering that if you do not take up your ISA allowance in any one tax year then it is lost forever.
Many people are overwhelmed by the short-term downbeat headlines in the financial press when in reality maybe now is the time to look to the medium and longer term. Rearranging your finances is not an act which should just be considered in the good times, because while many of your investments may have fallen over the last few months they could recover in due course. What better place to see them recover than a tax free shelter?
It is vital that professional advice is taken in the run-up to the end of the tax year because not all investors have the same background, the same investment strategy and the same requirements.
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